Harvest Partners Llc, a New York-based private equity firm, played a key role in the 2017 recapitalization of EyeCare Services Partners Holdings LLC (ESP). This strategic move allowed Harvest Partners to acquire the majority ownership interest previously held by Varsity Healthcare Partners (VHP). The transaction enabled ESP’s continued growth and expansion in the ophthalmologic services sector.
ESP, the nation’s largest vertically integrated ophthalmologic services company, benefited significantly from the partnership with Harvest Partners LLC. This recapitalization provided ESP with the necessary resources to further its mission of providing comprehensive eye care services. The company’s leadership, including CEO Michael Fricke and other doctor shareholders, retained a significant stake and continued to guide ESP’s strategic direction following the transaction with Harvest Partners.
The decision to partner with Harvest Partners LLC stemmed from ESP’s remarkable success and growth trajectory under VHP. This success enabled ESP to attract interest from numerous private equity firms. Ultimately, Harvest Partners’ extensive experience in platform growth strategy, particularly in multi-site acquisitions, made them the ideal partner for ESP’s next phase of expansion. Harvest Partners LLC brought a proven track record of success in consolidating and scaling businesses within the healthcare sector.
This recapitalization marked a pivotal moment for both ESP and Harvest Partners LLC. For ESP, it secured a financially strong partner committed to supporting its long-term growth objectives. For Harvest Partners, the investment represented a strategic acquisition of a market leader in a rapidly growing industry. The aging population and increasing demand for high-quality eye care services positioned ESP for continued success. This acquisition aligned perfectly with Harvest Partners’ investment philosophy of targeting profitable companies with strong growth potential. The transaction was facilitated by Jefferies LLC, acting as the exclusive financial advisor to Varsity Healthcare Partners, and legal counsel was provided by Morgan Lewis & Bockius LLP.
